Foster & Motley Inc. Makes New Investment in Macy’s, Inc. (NYSE:M)

Foster & Motley Inc. acquired a new stake in Macy’s, Inc. (NYSE:M) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,358 shares of the company’s stock, valued at approximately $277,000.

A number of other hedge funds also recently modified their holdings of the stock. Sei Investments Co. lifted its holdings in Macy’s by 47.3% during the 2nd quarter. Sei Investments Co. now owns 29,209 shares of the company’s stock worth $561,000 after purchasing an additional 9,379 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Macy’s by 400.7% during the second quarter. Bank of Montreal Can now owns 55,685 shares of the company’s stock worth $1,085,000 after buying an additional 74,201 shares in the last quarter. Creative Planning boosted its position in shares of Macy’s by 4.2% in the second quarter. Creative Planning now owns 62,703 shares of the company’s stock valued at $1,204,000 after acquiring an additional 2,554 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Macy’s in the second quarter valued at about $62,000. Finally, Handelsbanken Fonder AB increased its position in Macy’s by 17.0% during the third quarter. Handelsbanken Fonder AB now owns 57,865 shares of the company’s stock worth $908,000 after acquiring an additional 8,400 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Macy’s Stock Down 1.4 %

Shares of M opened at $15.55 on Friday. The company has a market capitalization of $4.32 billion, a PE ratio of 26.36 and a beta of 2.07. The stock’s 50-day moving average price is $15.99 and its two-hundred day moving average price is $15.79. The company has a current ratio of 1.26, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Macy’s, Inc. has a 12 month low of $13.66 and a 12 month high of $22.10.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, December 11th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Macy’s had a net margin of 0.73% and a return on equity of 21.99%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. On average, analysts anticipate that Macy’s, Inc. will post 2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on M. JPMorgan Chase & Co. reduced their price target on Macy’s from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Argus upgraded Macy’s to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley cut their price objective on shares of Macy’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Guggenheim reissued a “neutral” rating on shares of Macy’s in a report on Thursday, December 12th. Finally, UBS Group reduced their price target on shares of Macy’s from $10.00 to $9.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.78.

Macy’s Profile

Macy’s, Inc engages in the retail of apparel, accessories, cosmetics, home furnishings, and other consumer goods. The firm’s brands include Macy’s, Bloomingdale’s, and Bluemercury. It offers men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, as well as home and miscellaneous products.